NİHAT IŞIK
(Kırıkkale Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Kırıkkale, Türkiye)
SUAT SERHAT YILMAZ
(Kırıkkale Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Kırıkkale, Türkiye)
EFE CAN KILINÇ
(Kırıkkale Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Kırıkkale, Türkiye)
Yıl: 2017Cilt: 7Sayı: 2ISSN: 1308-5549 / 2147-4206Sayfa Aralığı: 105 - 126İngilizce

207 0
The Relationship between Current Account Balance and Types of Credits: An Application on Selected OECD Countries
While in literature that the current account deficit to GDP ratio exceeds the level 4-5 is considered as a leading indicator of crisis in economies, solution proposals to this issue is of vital importance in terms of countries. By the reason of increasing purchasing power, the rise in credits has a serious impact on the increase of the current account deficit without ignoring the importance of other factors. Within this scope, in the study, the relationship between current account balance and the credits to firms, households and government has been estimated by using PMGE and MGE in 26 selected OECD countries for the years between 2005Q1 and 2015Q2. The findings obtained showed that while the credits given to households and firms have a negative impact on the current account balance in short-run, the credits to firms and government have positive effect on it in longrun.
Sosyal > Tarih
DergiAraştırma MakalesiErişime Açık
  • http://stats.bis.org/statx/toc/CRE.html Date Accessed: 12.02.2016.
  • http://stats.oecd.org/. Date Accessed: 12.02.2016.
  • http://www.data.worldbank.com Date Accessed: 12.02.2016.
  • Uygur, E. (2012). Türkiye'de Cari Açık Tartışması. Turkish Economic Association Discussion Paper No. 2012/25.
  • Utkulu, U. (2001). Türkiye’de Dış Açıkların Belirleyicileri: Ekonometrik Bir İnceleme. Dokuz Eylül Üniversitesi İ.İ.B.F. Dergisi, 16(2), 113-132.
  • Tiryaki, S.T. (2002). Cari İşlemler Hesabına Çeşitli Yaklaşımlar, Sürdürülebilirlik ve Türkiye Örneği. Araştırma Genel Müdürlüğü Çalışma Tebliği No 8, 10.
  • Telatar, E. (2011). Türkiye’de Cari Açık Belirleyicileri ve Cari Açık-Krediler İlişkisi. BankacılarDergisi, No. 78, 22-34.
  • Tatoglu, F.Y. (2011). The Long and Short Run Effects Between Unemployment and Economic Growth in Europe.Doğuş Üniversitesi Dergisi, 12(1), 99-113.
  • Tarı, R., &Calıskan, S. (2005). Kocaeli İlinde Tüketimin Gelir Hipotezlerinin Analizi. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 19(2).1-19.
  • Seyidoglu, H. (2015). Uluslarası İktisat. 20th Edition, Istanbul. Kurtiş Matbaacılık.
  • Sandalcılar, A.R., &Altıner, A. (2014). Türkiye’de Tüketici Kredileri ile Cari İşlemler Açığı Arasındaki Nedensellik İlişkisi.BankacılarDergisi, No 29.
  • Rabin, A.A., & Yeager, L.B. (1982). Monetary Approaches to the Balance of Payments and Exchange Rates.International Finance Section, Department of Economics, Princeton University, 148.
  • Pettinger,T.(2013). Importance of Current Account Deficit. http://www.economicshelp.org/blog/6701/trade/importance-of-currentaccount-deficit/, Data Accessed: 25.02.2016.
  • Pesaran, M.H. (2007). A Simple Panel Unit Root Test in the Presence of CrossSection Dependence.Journal of Applied Econometrics, 22(2), 265-312.
  • Pesaran, M.H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels.Cambridge Working Papers in Economics No. 435, University of Cambridge.
  • Pesaran, M.H. (2003). Estimation and Inference in Large HeterogenousPanels with Cross Section Dependence.CESifo Working Paper Series No. 869. Available at SSRN: http://ssrn.com/abstract=385123.
  • O'Connell, P.G. (1998). The Overvaluation of Purchasing Power Parity.Journal of International Economics, 44(1), 1-19.
  • Moon, H.R., &Perron B. (2004).Testing for A Unit Root in Panels with Dynamic Factors. Journal of Econometrics, 122(1), 81-126.
  • Maddala, G.S.,&Shaowen W. (1999).A Comparative Study of Unit Root Tests with Panel Data and A New Simple Test.Oxford Bulletin of Economics and Statistics61.S1, 631-652.
  • Loayza, N., Chong, A., &Calderon, C.A. (1999). Determinants of Current Account Deficits in Developing Countries.World Bank Policy Research Working Paper No. 2398.
  • Levin, A., Chien-Fu L., &Chu, C.J. (2002).Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties. Journal of Econometrics, 108(1), 1-24.
  • Im, K.S.,Pesaran, M.H.,& Shin Y. (2003). Testing For Unit Roots in Heterogeneous Panels. Journal of Econometrics, 115(1), 53-74.
  • Kılıc, C. (2015). Tüketici Kredileri ve Cari Açık Arasındaki İlişki: Türkiye Örneği. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 29(2).407420.
  • Hausman, J.A. (1978). Specification Tests in Econometrics.Econometrica: Journal of the Econometric Society, 1251-1271.
  • Hadri, K. (2000). Testing for Stationary in Heterogeneous Panel Data.The Econometrics Journal, 3(2), 148-16.
  • Gocer, I., Mercan, M.,&Peker, O. (2013). Kredi Hacmi Artışının Cari Açığa Etkisi: Çoklu Yapısa Kırılmalı Eşbütünleşme Analizi. Ekonometri ve İstatistik e-Dergisi,18, 1-17.
  • Gacener A., A., &Saygılı, F.(2014).Türkiye'de Kredi Hacmi ve Cari Açık ilişkisi Üzerine Bir İnceleme. Business & Economics Research Journal, 5(4), 129141.
  • European Commission.(2012). Current Account Surpluses in the EU.European Economy, No.9/2012, http://dx.doi.org/10.2765/19685.
  • Erdem, E., Gulbahar, U., &Bulut, U.(2014).Impact of Domestic Credits on the Current Account Balance: A Panel ARDL Analysis for 15 OECD Countries. Актуальніпроблемиекономіки 1, 408-416.
  • Ekinci, M.F., Erdem F.P., &Kilinc, Z. (2015).Credit Growth, Current Account and Financial Depth. Applied Economics, 47(17), 1809-1821.
  • Duasa, J.(2004). The Malaysian Balance of Payments: Keynesian Approach Versus Monetary Approach.Society for Computational Economics No. 26.
  • Choi, I. (2001). Unit Root Tests for Panel Data. Journal of International Money and Finance, 20(2), 249-272.
  • Cınar,S. (2016). Enviroment, Society and Economic Growth.http://barcelona2016.econworld.org/programme_papers/papers/Cina r_Environment.pdf. (Data Accessed: 11.3.2016).
  • Buyukkarabacak, B.,& Krause, S. (2005). Studying the Effects of Household and Firm Credit on the Trade Balance: The Allocation of Funds Matters.Department of Economics, Emory University (Atlanta) No. 0510.
  • Breitung, J,& Das, S. (2005). Panel Unit Root Tests under Cross-Sectional Dependence. Statistica Neerlandica, 59(4), 414-433.
  • Breitung, J. (2000). Nonstationary Panels, Panel Cointegration, and Dynamic Panels.Adv. Econ, 15(2), 161-78.
  • Boamah, D.O., Jackman, M., &Mamingi, N. (2011).Credit Growth and the External Current Account in Barbados. Journal of Eastern Caribbean Studies. 36(3), 16-39.
  • Bai, J., & Serena, N. (2004).A Panic Attack on Unit Roots and Cointegration.Econometrica, 72(4),1127-1177.
  • Aristovnik, A. (2008). Short-Term Determinants of Current Account Deficits: Evidence from Eastern Europe and the Former Soviet Union. Eastern European Economics, 46(1), 24-42.
  • Angeles, L. (2015). Credit Expansion and the Economy, Applied Economics Letters, 22(13),1-9.
  • Altintas, H. & Mercan M. (2015). AR-GE Harcamaları ve Ekonomik Büyüme İlişkisi: OECD Ülkeleri Üzerine Yatay Kesit Bağımlılığı Altında Panel Eşbütünleşme Analizi, Ankara Üniversitesi SBF Dergisi, 70(2).
  • Aliogulları, Z.H., Baskaya, Y.S., Bulut, Y.E., &Kılınc, M. (2015). Türkiye’de Tüketici ve Ticari Kredilerin Cari Açıkla İlişkisi. Research and Monetary Policy Department, Central Bank of the Republic of Turkey, No.2015-19.

TÜBİTAK ULAKBİM Ulusal Akademik Ağ ve Bilgi Merkezi Cahit Arf Bilgi Merkezi © 2019 Tüm Hakları Saklıdır.